Euro Working Back Towards 14500
60 Minute Bars
Prepared by Jamie Saettele, CMT
The EURUSD decline from above 14900 is either wave A or 1 of a larger bear move. As such, lower prices are expected next month but probably not before a wave B (or 2nd) wave rally back to 14500-14600 (50%-61.8% Fibonacci levels). 14520 serves as highs from 4/12 through 4/14 and the 4/26 low is at 14493.
Support/Resistance Index (M,W,D) – (3), 0, 1
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday), technical analysis of currency crosseson Wednesday and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forex Stream. A graduate of Bucknell University, he holds the Chartered Market Technician (CMT) designation from the Market Technician Association. He is the author of Sentiment in the Forex Market. Send requests to receive his reports via email to email@example.com.
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